Trump Adjusts Iran Stance Following Pakistan’s Diplomatic Mediation Efforts

Updated: 7:58 AM PKT — May 29, 2026

US President Trump has reportedly sent the draft agreement with Iran to allied countries, including Israel, for review. The proposed deal includes clauses to open the Strait of Hormuz and lift the American blockade, which would grant Iran access to $12 billion of its frozen assets. The plan suggests restoring the strait to pre-war levels within 30 days, with China reportedly wanting the United Nations to provide the final ratification.

In a separate development, some Trump administration officials have allegedly pressured the US currency printing bureau to create a new $250 banknote featuring the president’s portrait. Such a move would be the first in over 150 years to feature a living person on US currency and would reportedly contravene current federal law.

Updated: 8:59 PM PKT — May 28, 2026

Iranian state media has released purported details of a draft agreement with the United States, causing global crude oil prices to fall below $90 per barrel. According to the reported memorandum of understanding, US forces would withdraw from areas surrounding Iran and the US Navy would end its blockade of the Strait of Hormuz.

Under the terms, Iran would restore commercial shipping in the strait to pre-war levels within one month. The draft reportedly specifies that US military vessels would not be granted free passage, and Iran would manage the shipping routes in cooperation with Oman. The report claimed the agreement could be formalized as a binding UN Security Council resolution within 60 days of being finalized.

Updated: 6:25 PM PKT — May 28, 2026

Iran has strongly condemned alleged threats by the United States against Oman regarding the Strait of Hormuz, expressing full solidarity with the Gulf state. An Iranian Foreign Ministry spokesman stated that threatening a UN member state which has consistently played a constructive role in regional peace is a violation of international law and a dangerous sign of bullying. The reaction follows reports of a US warning to “destroy” Oman if it cooperated with Iran on controlling the strategic waterway.

The spokesman clarified that while the strait is open to all vessels, restrictions remain for ships from Washington, Tel Aviv, and their affiliates. Tehran also accused the US of continuous ceasefire violations, citing military attacks on the southern port of Bandar Abbas and on commercial ships in the Persian Gulf, asserting it would take all necessary measures to defend its national sovereignty under the UN Charter.